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Started By
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Bitcoins Will Establish New Economic Aristocracy
Posted on 4/24/13 at 10:21 am
Posted on 4/24/13 at 10:21 am
quote:Would any of the Bitcoin advocates care to refute this criticism of Bitcoins? This criticism flies in the face of the arguments about the libertarian nature of Bitcoins.
Thus, Bitcoin is only “peer-to-peer” in the sense of the British Peerage system. Bitcoin “commoners” must appeal to their “lords” who have sufficient means to judge on validity of transactions and to seal those transactions as valid, likely for a fee." (LINK )
This post was edited on 4/24/13 at 10:50 am
3
Posted on 4/24/13 at 10:25 am to Poodlebrain
His concluding statement:
quote:
Honestly, I also wish somebody would disrupt VISA/MasterCard a little bit.
Posted on 4/24/13 at 10:27 am to gizmoflak
quote:
Blacklisting coins might create further repercussions.
This is a valid point.
How will coins that are known to be stolen be treated?
ETA: it wouldn't be hard to maintain a master list of tainted/disputed coins. What happens when every last coin is tainted? lol
This post was edited on 4/24/13 at 10:29 am
Posted on 4/24/13 at 10:28 am to Poodlebrain
I feel like if people wasted as much time on their personal finances as they did on Bitcoin speculation, we would all be better off.
Bitcoins are cool, sure. But they are a completely unregulated, floating currency that is subject to a brand new market. Huge uncertainty, huge risk. I'm sick of hearing about it frankly.
Bitcoins are cool, sure. But they are a completely unregulated, floating currency that is subject to a brand new market. Huge uncertainty, huge risk. I'm sick of hearing about it frankly.
Posted on 4/24/13 at 10:30 am to Cmlsu5618
Don't open the thread then
Posted on 4/24/13 at 10:33 am to Poodlebrain
quote:quote:
Thus, Bitcoin is only “peer-to-peer” in the sense of the British Peerage system. Bitcoin “commoners” must appeal to their “lords” who have sufficient means to judge on validity of transactions and to seal those transactions as valid, likely for a fee." (LINK )
Would any of the Bitcoin advocates care to refute this criticism of Bitcoins? This criticism flies in the face of the arguments about the libertarian nature of Bitcoins.
How can a British commoner become a British lord? He can't
How can a bitcoin "commoner" become a bitcoin "lord"? Buy hardware and become a node
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